NEW YORK--(BUSINESS WIRE)--Regulatory News:
Pernod Ricard (Paris:RI), through Pernod Ricard USA’s New Brand Ventures division, today announces that it has signed an agreement to take a majority stake in Del Maguey Single Village Mezcal, the leading producer of artisanal, hand-crafted mezcals and the number one mezcal brand in the US. The transaction is subject to usual condition precedents and is expected to close within 90 days.
Del Maguey Single Village Mezcal, founded in 1995 by artist and entrepreneur Ron Cooper, features a range of hand-crafted super-premium mezcals from the Oaxaca region of Mexico. Created from a traditional process rooted in Zapotec culture, the “Single Village” name identifies every Del Maguey product by the village in which it is made.
“We partnered with Pernod Ricard because they understand and appreciate our mission of preserving the culture of the Zapotec people and protecting the traditional process of making mezcal,” said Ron Cooper. “Through this partnership, our management team will gain increased opportunities to distribute our products to mezcal lovers around the world while also ensuring that the palenqueros – or families we work with – are able to continue crafting their liquid art for generations to come.”
Under the terms of the transaction, the management team of Ron Cooper, Michael Gardner, Steve Olson, and the rest of the Del Maguey team will remain in place. All of Del Maguey’s Mexico operations will remain intact as well.
Jeff Agdern, Senior Vice President of Pernod Ricard USA’s New Brand Ventures Division said: “Del Maguey Single Village Mezcal is highly respected by consumers and the industry for its brand authenticity and relationships with local farmer producers.” This acquisition has also been made possible thanks to Pernod Ricard Mexico teams that provided a deep appreciation of the link between mezcal and the economic vitality of the villages where it is produced.
Alexandre Ricard, Chairman and CEO of Pernod Ricard, commented: “We are very impressed by Del Maguey’s successful track record and the high quality of their mezcals. This partnership illustrates our continued strategy of partnering with dynamic entrepreneurs who share our passion for authentic, high-quality crafted premium products and further extends our fantastic portfolio of genuine brands.”
Global sales of mezcal rose to a record $80 million in 2015, and U.S. volumes jumped 279% from 2005-2015, according to International Wine & Spirits Research.
About Pernod Ricard
Pernod Ricard is the world’s n°2 in wines and spirits with consolidated Sales of € 8,682 million in FY16. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin and Malibu, Mumm and Perrier- Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo and Kenwood wines. Pernod Ricard employs a workforce of 18,500 people and operates through a decentralised organisation, with 6 “Brand Companies” and 85 “Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption. Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics.Pernod Ricard is listed on Euronext (Ticker: RI; ISIN code: FR0000120693) and is part of the CAC 40 index.
About Pernod Ricard USA
Pernod Ricard USA is the premium spirits and wine company in the U.S., and the largest subsidiary of Paris, France-based Pernod Ricard SA. The company’s leading spirits and wines include such prestigious brands as Absolut® Vodka, Chivas Regal® Scotch Whisky, The Glenlivet® Single Malt Scotch Whisky, Jameson® Irish Whiskey, Malibu®, Kahlúa® Liqueur, Beefeater® Gin, Seagram’s Extra Dry Gin®, Martell® Cognac, Hiram Walker® Liqueurs, Pernod®, Ricard® and Avión™ Tequila; such superior wines as Jacob's Creek®, Kenwood® Vineyards and Brancott Estate®; and such exquisite champagnes and sparkling wines as Perrier-Jouët® Champagne, G.H. Mumm™ Champagne and Mumm Napa® sparkling wines.
Pernod Ricard USA is based in New York, New York, and has roughly 650 employees across the country. Pernod Ricard USA urges all adults to consume its products responsibly and has an active campaign to promote responsible drinking. For more information on this, please visit: www.responsibility.org.
About Del Maguey Single Village Mezcal
Founded in 1995 by internationally renowned artist and mezcal visionary Ron Cooper, Del Maguey Single Village Mezcal introduced the world to previously unavailable artisanal mezcal. Through deep cultural relationships with indigenous producers in Oaxaca and Puebla, Mexico, Del Maguey protects and preserves the ancient production processes that have been passed down generationally for hundreds of years. These traditional methods, combined with the diverse micro-climates and terroir of Mexico, give each expression a unique, complex character that celebrates the art of the family producer. Driven by a devotion to the cultures of Mexico, social and environmental responsibility, and family, Del Maguey is committed to providing the world quality, traditionally crafted mezcals, while supporting the communities of Oaxaca and Puebla, through education, technology, access to basic needs and healthy ecosystems.